These coins were never a legal tender, but were used as “token money,” because small change was scarce in the colonies.
You know our money is but token money, and not worth the face value of the stamp.
The result, of course, was to make silver the standard and gold the fluctuating money or token money.
If different groups adopt different kinds of amulet ornaments as money, such intragroup money may be token money.
However, as token money, it is everywhere recognised as a circulating medium of trade.